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Important Xiamen Economic Facts
December 2nd, 2010 at 4:25 am by Chaz
Thinking about investing in Xiamen? Make sure you read our quick guide to foreign investment in Xiamen before you do so! All figures are up-to-date as of 2009 as posted on the Xiamen Foreign Investment Bureau’s website.
Xiamen, located on the southeastern coast of China to the west of the Taiwan Straits, covers a total area of 1,569.3 square kilometers. At the end of 2009, Xiamen had a registered household population of 1.77 million and a permanent population of about 2.52 million. There are six districts under the jurisdiction of the municipality including: Siming, Huli, Jimei, Haicang, Tong’an and Xiang’an.
Dubbed “China’s coziest city”, Xiamen has a pleasant climate, picturesque views and a very clean environment. In 2002, Xiamen received the Gold Medal at the “International Nations in Bloom” competition in Stuttgart, Germany. Domestic awards have included “National Sanitary City”, “National Garden City”, “National Model City for Environmental Protection”, “National Excellence in Tourism”, “National Top 10 Most Livable Cities”and “National Habitat Award”. In 2004, Xiamen was the world’s only city to win the 2004 UN Habitat Award. In 2009, Xiamen was awarded the title of “National Model City for Service Outsourcing”.
Xiamen was one of the first four special economic zones (SEZ’s) in China. Being one of the few municipalities enjoying independent status in state economic planning, Xiamen enjoys provincial level autonomy and local legislative power in economic administration.
Xiamen is one of the most competitive cities in China. According to the 2005 Competitiveness Report of Cities in China, Xiamen was regarded as one of the top 10 cities in terms of competitiveness in Mainland China, and also ranked tops in the comprehensive competitiveness of government services, the legal system, system building, culture & education, infrastructure, and market openness among others.
Xiamen has become one of the most important ports in China for international trade and cross-Straits trade. Two nationwide investment promotion events are held annually in Xiamen—- the “China International Fair for Investment and Trade” and the “China Xiamen Machinery and Electronics Exhibition”.
Xiamen has been a hot destination for foreign investment. By the end of 2009, 8609 foreign-invested projects had been approved with a total contractual value of over USD 31.98 billion of which USD 20.63 billion has been realized.
According to statistics released by the Xiamen Foreign Investment Bureau, the total value of output of foreign industrial enterprises in Xiamen accounts for 74.5% of Xiamen city’s total value output.
Xiamen is home to the following foreign enterprise magnates:
USA: GE, Kodak, Dell, Wal-Mart, Boeing, Coca-Cola, Honeywell International and Citibank
Europe: ABB, Phillips, Linde, Taikoo, Jardines, Metro, and Ecco
Japan: NEC, FDK, Panasonic, TDK, Mitsubishi, TOTO, Toshiba, Marubeni, and Toyot Tsoshu Corporation
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Categories
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Unit
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Year of 2009
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Growth Rate (Compared to 2008 Percentages)
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Gross Domestic Product (GDP)
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RMB 100 mil
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1623.21
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8.0
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|
Total industrial output value of enterprises yielding over RMB 5 mil. per year
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RMB 100 mil
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2784.02
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1.6
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Cargo handling volume of ports
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10,000 tons
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11096.28
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14.4
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Container handling volume
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10,000 TEUs
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468.04
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-7.0
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Number of airplane passengers entering and exiting ports
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10,000 person time
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1132.95
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20.7
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Total import & export value of foreign trade
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RMB 100 mil
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433.14
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-4.5
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Total export value
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RMB 100 mil
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276.62
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-5.9
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Total import value
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RMB 100 mil
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156.46
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-2.1
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Number of FDI projects
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|
325
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|
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Investment value of foreign contracts
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RMB 100 mil
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13.65
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-28.0
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Actual foreign investment value
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RMB 100 mil
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16.87
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-17.4
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Total financial revenue
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RMB 100 mil
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451.41
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10.1
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Local financial revenue
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RMB 100 mil
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240.56
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9.2
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Total investment of fixed social assets
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RMB 100 mil
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882.12
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-5.3
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Total commercial retail sales
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RMB 100 mil
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488.62
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15.3
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Per capita disposable income of city residents
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RMB
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26131
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9.1
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Per capita net income of rural residents
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RMB
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9153
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8
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Sources: http://fdi-xiamen-cn.com/v5/cn-p01-005.php and http://fdi-xiamen-cn.com/v5/cn-p01-004.php and http://fdi-xiamen-cn.com/v5/en-p01-001.php
Information edited and translated by Chaz Madrid for Xiamen Wave.